GenesisCare and Kohlberg Kravis Roberts & Co. L.P. (together with its affiliates, "KKR") announced that agreements have been entered into under which KKR will acquire up to a 63% ownership stake in GenesisCare, subject to shareholder acceptance.
GenesisCare operates an Australia-wide network of comprehensive cancer and cardiovascular care centres. The company is a leader in cancer and cardiovascular service provision and is committed to improving clinical outcomes and access for patients.
Comprising a team of doctors, healthcare specialists and management professionals, GenesisCare embraces a collegiate and innovative spirit that encourages advancements in patient care. The organization has more than 1,000 employees that have helped provide more than 350,000 patient treatments across Australia in the past 12 months.
“KKR acknowledges the essential role played by GenesisCare in providing the healthcare outcomes to patients in communities right around Australia,” Mr. Justin Reizes, Head of KKR Australia said.“We look forward to supporting GenesisCare as it seeks to expand services further into areas of unmet need.” Mr. Dan Collins, Managing Director of GenesisCare said KKR would bring proven global resources and deep healthcare expertise needed to meet the challenges confronting Australia’s healthcare system. “Our commitment to meet the needs of our patients continues, as does our plans to innovate how care is delivered. “Our talented doctors and supporting teams of medical professionals have combined to build a great organization. We make a positive impact wherever we have a presence. Together with KKR, GenesisCare can now continue to lead care and access standards and improve the patient experience,” Mr. Collins said. ABOUT GENESISCARE GenesisCare provides high quality specialist care to patients with cancer and cardiovascular disease, the two largest disease burdens in Australia. More than 70 clinics and facilities are located across metropolitan and regional Australia. The GenesisCare medical team comprises some of Australia's most experienced specialists with many dedicating time as consultants in public hospitals or participating in research and teaching. GenesisCare is adopting internationally proven medical technologies integrated with electronic healthcare records to improve patient clinical outcomes and their service experience.
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